Global Positioning System Is a Worldwide Satellite-Based Tracking System That

question 21

True/False

Global positioning system is a worldwide satellite-based tracking system that enables users to determine their position anywhere on the earth.

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Definitions:

Production Possibilities Curve

A graph that shows the various combinations of goods and services that an economy can produce given its resources and technology.

Capacity Utilization

The percentage of a firm's or nation's total production capacity that is actually being used over a specific time period.

Passive Resource

A passive resource refers to an economic asset that requires no active management or labor input to generate income or value.

Capital

Assets or resources that are used to generate income or make an investment, including buildings, machinery, and equipment.